Business leaders urge Senate to pass budget bill

The push is on by business groups to encourage passage of a budget plan they argue will provide some fiscal certainty and boost growth down the road.

Business Roundtable (BRT) sent a letter to all senators on Monday urging them to support the budget measure hammered out by Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.), who each head up their chamber’s Budget panels. 

{mosads}”The Ryan-Murray budget legislation, while not perfect, offers stability and the opportunity for the U.S. government to once again operate responsibly within the confines of an approved budget,” wrote Randall Stephenson, chairman-elect of BRT and head of AT&T.

“It is both balanced and fiscally responsible. We are confident that if enacted it would help provide a platform for greater investment, job creation, and growth. I hope it will have your strong support.”

The Senate will take a decisive procedural vote on Tuesday. The House easily passed the measure on Thursday before leaving for the holiday break. 

The nation’s top business leaders have said they are more optimistic about the pace of economic growth heading into next year, but much of that expected progress is dependent on Congress acting to reduce barriers to produce a more robust expansion. 

“The long-term business investment needed by our country simply will not occur in an environment of fiscal instability,” they wrote. 

That includes government shutdowns and brinkmanship over the debt ceiling and the ability of the federal government to pay its bills.

“Serial budget showdowns, government shutdowns, and brinksmanship over the full faith and credit of our nation are damaging the American economy.”